The Inheritance that Changed Everything

Susan von Seggern, a 56-year-old publicist and CFO in Los Angeles, owes much of her financial success to the wisdom and generosity of her grandmother. In 1993, Susan’s grandmother passed away, leaving her $10,000—an amount that would become the cornerstone of Susan’s journey to financial independence. At just 25 years old, Susan was mature enough to recognize the value of this gift. Instead of squandering it on fleeting indulgences, she made a conscious decision to invest it wisely, setting the stage for a lifetime of smart financial decisions.

The timing of the inheritance couldn’t have been more perfect. Susan had long coveted a Geo Metro LSI convertible but couldn’t afford it with her publicist salary. Taking on debt to buy the car seemed risky, and her practical upbringing discouraged her from spending beyond her means. However, with the $10,000 from her grandmother, she found a solution. She sold her old Nissan Sentra for $2,000 and combined it with the inheritance to purchase the convertible she had always wanted. This decision was more than just buying a car—it was a declaration of her independence and a commitment to living life on her own terms, within her budget and according to her preferences.

Susan’s grandparents had lived through the Great Depression and World War II, experiences that instilled in them a frugal mindset. Her parents, in turn, were raised to spending money only when absolutely necessary. This upbringing laid the foundation for Susan’s financial prudence. She understood the importance of saving and investing, lessons that would guide her throughout her life. Her early years were marked by minimalistic living, a habit that allowed her to save even more than the $400 she set aside each month after buying the car.

Building the Foundation

After purchasing the convertible, Susan’s next goal was to save for a home. She continued to set aside $400 monthly, treating it as if it were a car payment. Her minimalist lifestyle made it easier to save additional amounts by being mindful of her spending. Work expense accounts covered much of her daily expenses, such as lunches and parking, freeing up more of her income for savings. By the end of 1995, her disciplined approach had yielded enough to make a down payment on her first condo.

In 1995, Susan purchased a $175,000 condo, using $17,500 of her savings for the down payment and allocating the rest for moving and furnishing. This investment would prove to be a pivotal moment in her financial journey. A few years later, when Susan and her husband started a boutique PR agency, the rising value of the condo became a lifeline. The property gradually appreciated to around $400,000, allowing her to secure a $75,000 home-equity loan to cover agency debts during the dot-com bubble burst and the 9/11 recession.

By 2007, the condo’s value had soared to $715,000. Selling it left Susan with approximately $450,000 after paying off the bank and agents. She used this windfall to pay off her fiancé’s $50,000 debts, a decision that not only strengthened their relationship but also cleared a major financial burden. This was just the beginning of Susan’s journey to turning her $10,000 inheritance into a fortune.

The Power of Patience and Strategy

Susan’s financial success is a testament to her patience and strategic thinking. After selling her condo for $715,000, she didn’t let the money sit idle. Instead, she invested the $400,000 (after paying off her fiancé’s debts) into a brokerage account, allowing it to grow over time. Even when the market crashed during the pandemic, causing a 10% loss, Susan remained calm and confident in her long-term strategy.

In 2021, Susan and her husband bought a new home, making a $160,000 down payment. After covering moving expenses, they were left with $160,000, which they reinvested into their brokerage account. Their new home’s equity value now stands at around $300,000, further bolstering their financial security. Susan’s ability to balance their mortgage payments with the profits from their investments has been key to maintaining their financial stability.

This approach reflects Susan’s philosophy of using money as a tool to build wealth, rather than just spending it. Her inheritance was never just about immediate gratification—it was about laying the groundwork for a secure future.

Navigating Life’s Challenges

Susan’s financial journey has not been without its challenges. Her boutique PR agency, which she ran with her husband, faced significant setbacks during the dot-com bubble burst and the 9/11 recession. These events forced her to rely on the equity from her condo to settle debts and keep their business afloat. While the agency ultimately didn’t survive these crises, Susan’s ability to adapt and use her assets wisely ensured that she and her husband could move forward without being overwhelmed by debt.

The lessons Susan learned during these tough times have stayed with her. She understands the importance of having a financial safety net and the value of diversifying investments. Her ability to think critically and make tough decisions has been instrumental in her success. Even when the market dipped during the pandemic, Susan remained steadfast in her financial plan, confident that her investments would recover in time.

Today, Susan and her husband are still working, but their financial security gives them peace of mind. They know they have the resources to handle life’s uncertainties and still pursue their goals, both personally and professionally.

A New Inheritance

In 2024, Susan received another inheritance, this time $100,000 from her father’s estate. She and her husband have been using this money thoughtfully, balancing immediate needs with long-term goals. They spent $25,000 on home improvements, including a new roof, AC unit, and water heater, which not only enhanced their quality of life but also increased the value of their property. Another $20,000 was invested in her husband’s startup, supporting his entrepreneurial endeavors and potentially opening up new income streams. Additionally, $10,000 was allocated for medical expenses, ensuring that they were prepared for any health-related needs.

Susan’s approach to this second inheritance reflects the same wisdom she applied to her grandmother’s gift. She is using the money to strengthen their financial foundation while also investing in their future. By combining practical spending with strategic investments, Susan is ensuring that this inheritance, like the first, will have a lasting impact on their lives.

Looking Ahead

Susan’s story is a powerful reminder of the importance of financial literacy, discipline, and patience. From turning a $10,000 inheritance into a $400,000 fortune to using a second inheritance to secure her family’s future, Susan has consistently made smart, intentional decisions about her money. Her journey shows that wealth-building isn’t just about luck or circumstance—it’s about how you respond to the opportunities and challenges life presents.

As Susan looks to the future, she and her husband are well-positioned to enjoy the fruits of their labor. They continue to work, but their financial independence gives them the freedom to pursue their passions without worrying about money. Susan’s legacy is not just the wealth she has built but the wisdom she has gained along the way—a wisdom she will undoubtedly pass on to future generations. Her story is an inspiration to anyone looking to take control of their finances and build a secure, fulfilling life.